India is set to host more than 620 new Global Capability Centres (GCCs) by 2030, accounting for over 32 percent of Forbes 2000 enterprises, according to the ANSR Q3 GCC report. ANSR supports companies in building, managing, and scaling GCCs.

Currently, India hosts over 450 Forbes Global 2000 companies, with approximately 825 centres employing nearly 1.3 million professionals. The report says that both large corporations and mid-sized or smaller enterprises are establishing GCCs in India.

GCCs are dedicated offshore units that help companies in-source IT and related business functions. Nearly 45 percent of Forbes Global 2000 GCCs have operations across multiple cities in India, with some opting for multi-centre models.

Bengaluru, which hosts more than 285 Forbes Global 2000 companies, remains the most prominent hub for GCCs. The city employs over 560,000 professionals. Hyderabad comes next with more than 110 Forbes Global 2000 companies and employs over 190,000 professionals. Non-metro cities are also gaining attention as emerging GCC destinations. Cities like Ahmedabad, Visakhapatnam, Trivandrum, Kolkata, Bhubaneswar, and Coimbatore are increasingly being considered for their potential to host GCCs.

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By 2024, about 256 GCCs in India, representing 60 percent of the country’s total captive share, originated from North America, while over 125 GCCs were from Europe. The BFSI sector led in GCC establishment, followed by the manufacturing and retail industries. Digital commerce initiatives feature prominently, with 85 percent of GCCs focusing on these areas.

New GCCs are prioritising advanced digital capabilities. About 90 percent are working on artificial intelligence (AI), machine learning (ML), and data analytics.

During the third quarter of 2024, GCCs leased over 8.2 million square feet of office space, accounting for 44 percent of total office leasing in India. Bengaluru dominated leasing activity, capturing 62 percent of the total leased space. Hyderabad followed with a 15 percent share. Companies such as Walmart, Sanofi, NatWest Group, Flutter Entertainment, and Delta played key roles in these leasing activities.